Gulfstream lays off nearly 700 employees in Georgia

An aerospace company announced it laid off nearly 700 employees at its Georgia facility amid the coronavirus pandemic.

Gulfstream, a company that makes business and military jets, laid off 699 employees in Savannah due to a decline in revenue, the company said Monday in a statement reported by news outlets.

Heidi Fedak, the company’s director of corporate communications, said the cost cutting measures Gulfstream put in place were not “sufficient” to overcome the impact of the virus outbreak on their operations. Some employees that were laid off may receive severance pay and get their benefits extended, she added.

The Savannah Morning News reported last week the company experienced a delay in the delivery of 11 jets and suffered a $549 million decline in revenue during the first quarter of this year.

The company, which employs nearly 18,000 people worldwide and about 10,000 in Georgia, also laid off 446 domestic workers across 10 U.S. cities in October, the Savannah Morning News reported.